Logistri takes delivery of two properties in Ludvika and begins Hitachi Energy logistics center project
Key Facts
On January 29, 2026, Logistri announced that it had taken delivery from Torngrund Group of the properties Ludvika Gonäs 1:181 and Ludvika Gonäs 1:178, and that production had begun on a logistics center dedicated to Hitachi Energy Sweden. The development project covers buildings to be used by the Swedish company under a lease covering both properties in full. The announcement does not confirm that the properties were sold to Hitachi Energy or the price cited in an earlier draft. Instead, it describes an agreement granting the tenant an option to buy linked to the project. The project was expected to be completed in early 2027.
The project consists of two buildings with a total gross floor area of about 103,000 square meters, according to Logistri’s announcement of its agreement with Torngrund in October 2025. Hitachi Energy Sweden signed a 15-year lease for the full area of both buildings, according to a Nasdaq announcement in September 2025. The agreement gives the tenant the option to request the purchase of the shares in the project companies and the associated properties when the project is completed, or five years after completion. Logistri set the agreed property value at completion at 1,354 million kronor. After five years, the formula provides for the value to be adjusted annually in line with the consumer price index plus 0.5%.
In its January 2026 announcement, Logistri estimated the expected annual net operating income from the two properties upon completion at 89 million kronor. It estimated the agreed property value in that transaction at 1,254 million kronor, equivalent to a property yield of 7.1%. This differs from the completion value set in the project agreement, which is 1,354 million kronor. The available announcement does not establish a figure for expected project profit; the 2025 annual report said the profit would be calculated upon completion and distributed between Logistri and Torngrund according to specified terms. Nor does Logistri’s public announcement confirm additional modification or construction work orders linked to a completed sale.
The project was more than halfway complete by August 2026. In its first-half report, Logistri said construction of the Hitachi Energy logistics center in Ludvika had passed a “major milestone” and was “more than halfway complete.” On August 20, Chief Executive David Trapp said the project was “progressing according to plan,” in the context of discussing earnings performance and profit-generating capacity. The update places the project in the construction phase, with the expected completion date still in early 2027. The long-term lease is part of the arrangements for use of the center once it is completed.
Logistri’s revenue grew in the first half of 2026, rising 24.9% to 106.8 million kronor, compared with 85.5 million kronor in the same period of 2025. In its announcement of the project, the company said the modern logistics center was a key element of Hitachi Energy’s growth strategy in Sweden. The company’s chief executive in Sweden, Tobias Hansson, said it looked forward to “deepening cooperation and building a long-term partnership” with Torngrund and Logistri. Hitachi Energy shares, traded under the ticker HTHIY, closed at $36.4 on October 28, 2026, according to EL7 data. The available data did not include the session’s high or low share price.